Jeff Bezos has purchased a third mansion on Florida's "billionaire bunker" island for $88 million.

The Amazon tycoon has added the six-bedroom property located on Indian Creek island near Miami to his portfolio of homes in the exclusive location.

It is thought that Bezos, 60, will live in the house as he demolishes his other two properties in the area.

Records show that the mansion was last sold in 1998 for just $2.5 million and used to be owned by the former banker Javier Holtz.

The mansion contains nine bathrooms, a massive front lawn, a pool and numerous balconies and entrances. It is also painted yellow and has a Spanish-style roof.

Bezos is said to have paid around $146 million for his other homes on the island, which also contains residences owned by NFL great Tom Brady as well as Ivanka Trump and her husband Jared Kushner.

Miami historian Paul George says that the billionaire's latest acquisition is testament to how popular the area is.

He told The Times newspaper: "There’s a certain amount of hyperbole around the ‘billionaire bunker’ name — but come back in 10 years and it won’t be hyperbole.

"There’s a momentum here in Miami, where the rich and famous and beautiful are buying property, whether it’s a primary or secondary home, because it’s alluring for the water and the weather and the buzz. Miami’s become one of the biggest hot spots in the hemisphere."

Bezos, who was ranked as the third richest person in the world in Forbes' latest list, is unlikely to be disturbed in the mansion as the island has its own 13-strong police force, although he will be accompanied by wildlife including rat snakes, land crabs and pelicans.

George said: "Security is tight. These folks don’t want to be bothered and they’re willing to spend money making sure of it."

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